One of the reasons behind the popularity of cryptocurrencies is its decentralization. Centralized firms have long exploited customers for their own gains. The problem had been rampant in the financial industry. Investment or credit opportunities are usually limited to the few wealthy who firms know can provide heavy inflow for their businesses. This has led to a supply and demand gap. A large chunk of the global population is unbanked – especially in the developing world which means that they have been systematically excluded by big firms from the global financial ecosystem.
The advent of cryptocurrencies and blockchain – and the concept of decentralization – meant inclusivity for all. A lot of projects have been launched that focus on this goal and target the unbanked population. CreditCoin token is one such project. In this guide, we will study what the cryptocurrency actually is.
What is Creditcoin Token?
Creditcoin token is a new launch in the market and it has created a hype of its own ever since its launch. The blockchain is designed with the goal of financial inclusion of the unbanked population in the world as its core. Moreover, it also aims to achieve its goal in a transparent and objective manner.
The Creditcoin network allows the unbanked population of the world to build their credit by recording their transactions on its blockchain. The network essentially provides crypto credit investment. It serves as a marketplace for lenders and borrowers. Fundraisers announce their credit requirements and they have matched with investors willing to invest the same amount. Both investors and fundraisers record their loan into the ledger. As the history of a fundraisers accumulate, it can also be used by investors to assess their credit rating and choose to invest or not invest.
In a nutshell, Creditcoin token is a decentralized and digital bank for credit for the unbanked population.
Future outlook
Creditcoin had entered into multiple partnerships upon its launch with loan companies and investors as the first batch of users. Apart from valuable partnerships, the network also received positive feedback. Moreover, the vision of the network is completely in line with the aim of the blockchain community which makes it a good investment potential.
At the time of writing, the CTC token stands at a price level of $2.54. The price has declined by 6% in the daily timeframe; however, the future outlook for the cryptocurrency is bullish. According to the estimates of Wallet Investor, the Creditcoin token is expected to be operating at a price level of $5.3 in a year’s time while the five-year projection places it at $16.4.
